The economy is showing signs of strength as new figures from the Office for
National Statistics show that record numbers of people are in work, as
unemployment rates continue to fall.

Nearly 30 million people had jobs in the three month period from September to November 2012, an increase of 90,000 over the previous three months from June to August 2012, and up by more than half a million on the previous year.

While the number of people in jobs is at a record high, the overall rate of employment is 71.4 per cent, which is well below the peak of nearly 73 per cent before the start of the global recession in 2008.

Unemployment also fell by 37,000 in the latest quarter to just under 2.5 million, the lowest since spring 2011.

Long-term unemployment has fallen by 10,000 for those out of work for more than two years, to 434,000, and by 5,000 for people unemployed for at least a year, to 892,000.

However the rate of long term unemployment is still historically very high.